This paper looks at 21st-century dollarization in Latin America. We emphasize that dollarization is a complex reform that can be implemented in many different ways. We draw three important lessons from these experiences: (1) keeping the central bank after dollarizing is an unnecessary...

I study the economies of Colombia (floating exchange rate) and Panama (dollarized) to illustrate how the monetary policy of a large economy can export capital structure distortions to small open economies that follow different exchange rate regimes. The paper contributes to the literature on...

In this article, I study the effects of U.S. monetary policy on Latin America's production structure prior to two recent economic crises. In particular, I study the effects of monetary policy on the real economy at the industrial level. I find that changes in the Federal Funds rate produce...

This paper studies the impact of 21st century populism in Latin America on income and human development. We find a significant economic cost of populism that is consistent with other studies using a different methodology than ours. Our sample consists of five Latin American countries...

This paper builds a populism index to study to impact of commodity prices and economic crisis on Latin American populism in the early 21st century. Panel data analysis shows some evidence that both, commodity prices and economic crisis, are correlated with an increase in populist policies